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BUZZ-SkyePharma: disappointing sales hit shares

Reuters - UK Focus

** SkyePharma (LSE: SKP.L - news) dives to lowest levels in more than 4 mths on lower-than-expected GlaxoSmithKline Q3 2014 sales of Relvar/Breo Ellipta and Anoro Ellipta, which both use SkyePharma licensed technology [ID:

** Stock, which has had great run over the past year, rising around 200 pct, down 16.5 pct & poised for worst one-day pct move since June 2010

** Co says royalties should still reach the cap of 9 mln stg a year, but this may be one year later than it previously expected

** Also, co spokesman says market caught off-guard by SkyePharma saying it will spend more on R&D of new products; says co will have to explain to investors what it is going to invest money on in more detail

(RM (LSE: RM.L - news) :richa.naidu.thomsonreuters.com@reuters.net)